BOSTON, June 1, 2017 /PRNewswire/ -- Riverside Partners, LLC, a Boston-based private equity firm, announced today that it has completed the previously announced sale of its portfolio company Thinklogical to Belden Inc. (NYSE: BDC). Based in Milford, Connecticut, Thinklogical is the leading global manufacturer of secure, high-performance KVM signal extension and switching systems for video-rich applications and has been a portfolio company of Riverside Partners since 2010. The sale of the Thinklogical, which was previously announced on May 4, 2017, was completed on May 31, 2017, following receipt of all regulatory approvals.
"Thinklogical has been an exciting investment for Riverside Partners," said Steven F. Kaplan, General Partner of Riverside Partners and Chairman of the Board of Thinklogical. "In the seven years under our ownership, Thinklogical has been transformed from a founder-owned and operated business with superior technology to a truly global and professional enterprise." Mr. Kaplan continued, "Thinklogical has expanded its business across the board, including in the areas of new product introductions, increasing average annual new product introductions from four in the years prior to our involvement to 11 in the subsequent years, and expanding the global sales and marketing team by nearly seven times."
Michelle C. Noon, General Partner at Riverside Partners, added, "Steve and I, on behalf of Riverside Partners, are extremely proud of the transformation that Thinklogical has undergone during our ownership. Thinklogical has always been known for its superior technology. Now, the Company operates with industry-leading technology at global scale. Furthermore, Thinklogical remains poised for continued success."
"Riverside Partners has been an incredibly valuable partner to Thinklogical. With Riverside's guidance and support, Thinklogical has expanded the breadth and depth of its offerings while maintaining the high standard for technology excellence that Thinklogical's customers across military and intelligence, broadcast and post-production have come to expect from us," said Joe Pajer, Thinklogical's Chief Executive Officer. Mr. Pajer continued, "Belden is a great home for the next phase of our company's growth and expansion."
About Riverside Partners, LLC
Founded in 1989, Riverside Partners is a middle market private equity firm currently investing Riverside Fund V, L.P. The fund focuses on growth-oriented companies in the technology and healthcare sectors. Riverside Partners is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. Riverside Partners seeks to make investments in companies with revenues between $20 and $200 million and with $5-$25 million of EBITDA. For more information, please visit www.riversidepartners.com.
About Thinklogical, LLC
Thinklogical, LLC is the leading global manufacturer of secure, high-performance KVM signal extension and switching systems for video-rich applications. Customers within Government, Intelligence, Broadcast, Post-Production and other mission-critical Command and Control environments worldwide rely on Thinklogical's products and services for security, high performance, continuous operation and ease of integration. Thinklogical is headquartered in Milford, CT.
SOURCE Riverside Partners, LLC